Bank Act (S.C. 1991, c. 46)

Act current to 2015-08-30 and last amended on 2015-06-23. Previous Versions

Marginal note:Branch registers

 A bank holding company may establish as many branch securities registers as it considers necessary.

  • 2001, c. 9, s. 183.
Marginal note:Agents

 A bank holding company may appoint an agent to maintain its central securities register and each of its branch securities registers.

  • 2001, c. 9, s. 183.
Marginal note:Location of central securities register
  •  (1) The central securities register of a bank holding company shall be maintained by the bank holding company at its head office or at any other place in Canada designated by the directors of the bank holding company.

  • Marginal note:Location of branch securities register

    (2) A branch securities register of a bank holding company may be kept at any place in or outside Canada designated by the directors of the bank holding company.

  • 2001, c. 9, s. 183.
Marginal note:Effect of registration

 Registration of the issue or transfer of a security in the central securities register or in a branch securities register is complete and valid registration for all purposes.

  • 2001, c. 9, s. 183.
Marginal note:Particulars in branch register
  •  (1) A branch securities register shall only contain particulars of the securities issued or transferred at the branch for which that register is established.

  • Marginal note:Particulars in central register

    (2) Particulars of each issue or transfer of a security registered in a branch securities register of a bank holding company shall also be kept in the central securities register of the bank holding company.

  • 2001, c. 9, s. 183.
Marginal note:Destruction of certificates

 A bank holding company, its agent or a trustee within the meaning of section 294 is not required to produce

  • (a) a cancelled security certificate in registered form or an instrument referred to in subsection 713(1) that is cancelled or a like cancelled instrument in registered form after six years from the date of its cancellation;

  • (b) a cancelled security certificate in bearer form or an instrument referred to in subsection 713(1) that is cancelled or a like cancelled instrument in bearer form after the date of its cancellation; or

  • (c) an instrument referred to in subsection 713(1) or a like instrument, irrespective of its form, after the date of its expiration.

  • 2001, c. 9, s. 183.